Sobeco: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Sobeco
Largest movements
- Current investments +€2.5m
new in 2025: €2.5m
- Cash +€358,283
up €358,283 (+215.9%), from €165,948 to €524,231
- Receivables within one year +€206,204
up €206,204 (+267.8%), from €77,003 to €283,207
of which Other amounts receivable: +€132,174
- Reserves +€1.7m
up €1.7m (+183.0%), from €936,089 to €2.6m
of which Distributable reserves: +€1.7m
- Provisions +€550,000
new in 2025: €550,000
- Accrued charges and deferred income +€465,901
up €465,901 (+1986.8%), from €23,450 to €489,351
- Other debts +€340,199
up €340,199 (+115.4%), from €294,778 to €634,978
- Debts after one year -€208,205
down €208,205 (-28.4%), from €732,006 to €523,801
of which Financial debts: -€208,205
- Gross operating margin +€3.1m
up €3.1m (+823.1%), from €370,571 to €3.4m
- Taxes +€649,672
up €649,672 (+958.9%), from €67,754 to €717,426
- Provisions +€550,000
new in 2025: €550,000
- Financial income +€66,175
up €66,175 (+7694775.6%), from €1 to €66,176
- Other operating charges -€37,757
down €37,757 (-53.7%), from €70,353 to €32,596
From the 2023 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,537,889 | €5,618,873 | +€3.1m | +121.4% |
| Fixed assets | 21/28 | €2,292,547 | €2,301,591 | +€9,044 | +0.4% |
| Tangible fixed assets | 22/27 | €2,292,547 | €2,301,591 | +€9,044 | +0.4% |
| Land and buildings | 22 | €2,285,010 | €2,275,130 | -€9,881 | -0.4% |
| Furniture and vehicles | 24 | €7,537 | €26,461 | +€18,924 | +251.1% |
| Current assets | 29/58 | €245,342 | €3,317,282 | +€3.1m | +1252.1% |
| Amounts receivable within one year | 40/41 | €77,003 | €283,207 | +€206,204 | +267.8% |
| Trade receivables | 40 | €49,757 | €123,787 | +€74,030 | +148.8% |
| Other amounts receivable | 41 | €27,246 | €159,419 | +€132,174 | +485.1% |
| Current investments | 50/53 | - | €2,504,644 | +€2.5m | |
| Cash at bank and in hand | 54/58 | €165,948 | €524,231 | +€358,283 | +215.9% |
| Deferred charges and accrued income | 490/1 | €2,391 | €5,201 | +€2,810 | +117.5% |
| Total equity and liabilities | 10/49 | €2,537,889 | €5,618,873 | +€3.1m | +121.4% |
| Equity | 10/15 | €1,159,193 | €2,872,116 | +€1.7m | +147.8% |
| Contributions | 10/11 | €223,104 | €223,104 | = | 0.0% |
| Capital | 10 | €223,104 | €223,104 | = | 0.0% |
| Issued capital | 100 | €223,104 | €223,104 | = | 0.0% |
| Reserves | 13 | €936,089 | €2,649,012 | +€1.7m | +183.0% |
| Non-distributable reserves | 130/1 | €22,310 | €22,310 | = | 0.0% |
| Legal reserve | 130 | €22,310 | €22,310 | = | 0.0% |
| Distributable reserves | 133 | €913,779 | €2,626,702 | +€1.7m | +187.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €550,000 | +€550,000 | |
| Provisions for liabilities and charges | 160/5 | - | €550,000 | +€550,000 | |
| Other liabilities and charges | 164/5 | - | €550,000 | +€550,000 | |
| Amounts payable | 17/49 | €1,378,695 | €2,196,756 | +€818,061 | +59.3% |
| Amounts payable after more than one year | 17 | €732,006 | €523,801 | -€208,205 | -28.4% |
| Financial debts | 170/4 | €724,506 | €516,301 | -€208,205 | -28.7% |
| Other amounts payable | 178/9 | €7,500 | €7,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €623,240 | €1,183,604 | +€560,365 | +89.9% |
| Current portion of amounts payable after more than one year | 42 | €134,713 | €119,286 | -€15,427 | -11.5% |
| Financial debts | 43 | - | €188,509 | +€188,509 | |
| Credit institutions | 430/8 | - | €188,509 | +€188,509 | |
| Trade debts | 44 | €54,494 | €239,021 | +€184,527 | +338.6% |
| Suppliers | 440/4 | €54,494 | €239,021 | +€184,527 | +338.6% |
| Taxes, remuneration and social security | 45 | €139,255 | €1,810 | -€137,444 | -98.7% |
| Taxes | 450/3 | €139,255 | €1,810 | -€137,444 | -98.7% |
| Other amounts payable | 47/48 | €294,778 | €634,978 | +€340,199 | +115.4% |
| Accrued charges and deferred income | 492/3 | €23,450 | €489,351 | +€465,901 | +1986.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,393 | €26,522 | +€7,128 | +36.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €550,000 | +€550,000 | |
| Other operating charges | 640/8 | €70,353 | €32,596 | -€37,757 | -53.7% |
| Gross operating margin | 9900 | €370,571 | €3,420,790 | +€3.1m | +823.1% |
| Operating profit (loss) | 9901 | €280,825 | €2,811,673 | +€2.5m | +901.2% |
| Financial income | 75/76B | €1 | €66,176 | +€66,175 | +7694775.6% |
| Recurring financial income | 75 | €1 | €66,176 | +€66,175 | +7694775.6% |
| Financial charges | 65/66B | €7,255 | €13,524 | +€6,270 | +86.4% |
| Recurring financial charges | 65 | €7,255 | €13,524 | +€6,270 | +86.4% |
| Profit (loss) for the period before taxes | 9903 | €273,571 | €2,864,325 | +€2.6m | +947.0% |
| Income taxes | 67/77 | €67,754 | €717,426 | +€649,672 | +958.9% |
| Profit (loss) for the period | 9904 | €205,817 | €2,146,898 | +€1.9m | +943.1% |
| Profit (loss) for the period to be appropriated | 9905 | €205,817 | €2,146,898 | +€1.9m | +943.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.